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Homes and Land in Sunny Sequim, Washington

Homes and Land in Sunny Sequim, Washington

Sequim's No.1 Buyer's Agent Where Knowledge & Experience Count.

(360) 775-5424
Email: ChuckMarunde@gmail.com

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125 Olympic Ranch Ln, Sequim, WA 98382

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What About For Sale By Owners?

by Chuck Marunde / Thursday, 08 August 2013 / Published in FSBO

Should buyers be looking at For Sale By Owners?  Can a buyer find a good deal with For Sale By Owners (FSBOs)? Here’s the truth about FBSOs that may surprise you.

For Sale By Owners

The Truth About For Sale By Owners

Every FSBO I’ve ever talked to had a bad experience with a Realtor.  A lot of people, not just FSBOs, had bad experiences with Realtors. That’s not front page news.  Unfortunately, instead of finding a professional Realtor who really is honest and competent, For Sale By Owners take a different path.  They decide to become their own experts.  In over 85% of the cases, FSBOs eventually give up and re-list with a Realtor according to a study by the National Association of Realtors.

For Sale By Owners make their first mistake hiring the wrong real estate agent.  They compound that mistake by becoming their own Realtor even though they don’t have the knowledge and experience. I would estimate the failure rate for all FSBOs at 98%.  It’s not a pretty picture. 

For Sale By Owners in MLS

FSBOs are not allowed to advertise in the two primary MLS sites in Clallam County.  That means they don’t get the massive exposure they desperately need to reach all the potential buyers. But there are a couple of brokerages that sell a FSBO package for a flat fee of $250 to $450.  For that they put the listing in the MLS, but that’s about it.  So how does this work out for FSBOs? Not so good. Every FSBO I’ve talked to who has used one of these services was very disappointed and felt like they got ripped off.

For Sale By Owners Fail

I actually called on a FSBO that was listed in the Northwest MLS, because a buyer was interested in the home. Most sellers would be very delighted to have a potential buyer look at their home, but this FSBO was actually rude on the phone from the get go. He asked personal questions on the phone about my clients, but of course, I would not answer confidential information about my clients.  It was surprising.  He then told me he had other plans and did not want his home showed. No wonder Realtors don’t like to show and sell FSBO homes, and no wonder For Sale By Owners can’t get their homes sold.  Sellers cannot and should not be confrontational or rude on the phone to a potential buyer or a buyer’s agent.  It’s just crazy.

I communicate typically for months with my buyers, and I know whether they are qualified to buy a home.  All my clients have been through my qualification process by the time we start viewing homes.  I keep that qualification process confidential.  I doubt that very many FSBOs have communicated with potential buyers for months to learn about whether they are qualified or not, and most FSBOs don’t have the training and experience to qualify buyers.  A few questions on the phone do not necessarily prove they are qualified.

By the way, the clients I wanted to show the FSBO to are paying cash for a home in the $400,000 plus range. Wow, this FSBO sure missed a qualified buyer by brushing me off!  I believe that FSBO thought my clients weren’t qualified.  Big mistake.  But this is another reason why sellers should list with a professional Realtor.  FSBOs make mistakes, some out of ignorance, but other mistakes are made by FSBOs who are totally sincere.  It doesn’t matter, any mistake that hinders the sale of a home is a big mistake.

The rest of the story is For Sale By Owners are most often overpriced, and they are quite often very difficult to deal with. I have over three decades of observing FSBOs.  It may sound harsh, but honestly, if buyers asked me, I would say don’t bother when it comes to For Sale By Owners.  As friendly and positive as I am on the phone when I call a seller, I have to say that the majority of FSBOs that I have called in three decades tend to be confrontational and rather rude on the first phone call.  I can only speculate why that would be, but the bottom line is For Sale By Owners are difficult to deal with.

Possibly Related Posts:

  • For Sale By Owner: Why Few Sell Their Own Homes
  • Should Buyers Look for a FSBO?
  • Why a FSBO (For-Sale-By-Owner) Is Hard to Sell
  • Why The For-Sale-By-Owner (FSBO) is Hard to Sell
  • FSBO asks Should I List My House Above FMV

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About Chuck Marunde

After practicing real estate law for 20 years in Washington, Chuck opened iRealty Virtual Brokers covering the Sequim and the beautiful Olympic Peninsula. Chuck is the author of numerous magazine and Internet articles with a primary focus on real estate. He is also the author of over a dozen books, mostly about Sequim real estate. Chuck is a photographer, videographer, and Registered FAA Drone Pilot. Chuck has combined his love for real estate and technology to create a growing Internet presence in his market, and enjoys building his websites and blogs, including SequimBlog.com and Sequim4Sale.com and LuxuryWaterViewHomes.com. Chuck has degrees in Economics, Law, and Education.

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Chuck E. Marunde, J.D.

Sequim Buyer's Agent
(Atty Ret.)
Founder and Broker of
Sequim & Port Angeles Real Estate dba iRealty Virtual Brokers
125 Olympic Ranch Ln,
Sequim, WA 98382
(360) 775-5424
ChuckMarunde@gmail.com

Blog Articles by Date

From Los Angeles

It's rare, but once in awhile life provides the perfect collaborator for an important endeavor such as buying your new home. For me that person was Chuck Marunde. His two decade background as a Real Estate Attorney, his prolific career as an author of articles and books on Real Estate and his forthright and moral character made choosing Chuck a no-brainer. Chuck is dedicated, thorough, incredible at the negotiating table, knowledgeable about all local laws & regs but, most importantly, Chuck loves what he does. And what he does is find his client the perfect property. Chuck isn't about making the sale, he's about making the sale that is OPTIMUM for his CLIENT and this makes Chuck a rare bird indeed. I love my new home in Sequim and I am indebted to Chuck for making it happen. Kevin E.

From Seattle

I’ve had the pleasure of working with Chuck over the past three years in selling my parent's estate. It was a tough time to sell during the housing recession, but Chuck always kept things on the positive side. With his real estate law background, he offers sound, practical advice. He helps you along with the process using discussions and reason, rather than opinions and speculations. If Chuck doesn’t know the answers, he will get them for you. In several instances, Chuck took the initiative to meet with county officials to get up-to-date facts about zoning and regulations. I was always impressed with his company’s tech savvy communi-cations and internet presence: weekly email updates, blogs, videos, links, Linked-in networking, etc. He is truly pioneering the future of buying & selling real estate. Brian M.

From California

"Andy Romano is a successful motion picture character actor with over 40 years in 'the Biz.' Mr. Romano has a home in beautiful Santa Barbara, California, but he chooses to live most of the time in Sequim, Washington on the Olympic Peninsula in the great Pacific Northwest. Why? In his own words, 'Because it's even more beautiful and surrounded by more beauty in this incredibly peaceful and quiet place. With respect to real estate agents or brokers, well my friend Chuck Marunde, owner of Sequim and Port Angeles Real Estate, is hands down the best there" Andy R.

Intro by Chuck Marunde

From Florida

We do our homework for the task at hand and we look for and expect to enlist partners that do the same. It was our good fortune to select Chuck Marunde of Sequim and Port Angeles Real Estate to represent us as a buyer's broker in our search for a home in the Sequim/Port Angeles area. Chuck's site is all encompassing and super fast compared to many others, he knows the market at every conceivable level and his guidance through the process of selecting and purchasing a home is priceless - above and beyond that of anyone with whom we have ever worked. Add to all this his 20 year background in real estate law and you have discovered a superb asset in the adventure of purchasing a home. Greg and Marilyn

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